Saturday, December 19, 2009

England's World Cup bid gets loan

David Beckham
David Beckham is one of the World Cup ambassadors for England 2018

The UK government is to give a £2.5m loan to back England's bid for the 2018 World Cup.

Sports Minister Gerry Sutcliffe said the money would "help the campaign team make the case for a fantastic World Cup in England in 2018".

The money will be paid back along with a share of the profits from the tournament if the Football Association's (FA) bid wins.

This week, the government also signed off on £300m of financial guarantees.

England 2018 chief executive Andy Anson said earlier this month that £15.5m as a "base budget" had been earmarked for the bid, which included FA and commercial money.

Countries will find out who won with their bid to host the World Cup in December 2010.

In October, Brazil was confirmed as the host nation of the 2014 World Cup.

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